---
title: "Expensive Oil"
url: https://independentstockanalysis.com/expensive-oil/
description: "Oil Declines in New York Amid Signs of Higher U.S. Supply at Bloomberg . June oil production in North Dakota was higher by 20k b/d over May and 71% higher…"
published: 2012-08-15
updated: 2012-08-15
---

# Expensive Oil

Published 2012-08-15

Posted on

by

J.J. Butler

Oil Declines in New York Amid Signs of Higher U.S. Supply at [Bloomberg](http://www.bloomberg.com/news/2012-08-15/oil-declines-in-new-york-amid-signs-of-higher-u-s-supply.html).

June oil production in North Dakota was higher by 20k b/d over May and 71% higher year over year (June 2011 was weather depressed) ([Mark Perry](http://mjperry.blogspot.com/2012/08/americas-new-no-2-oil-state-north.html#links)). When the revised Texas numbers come out we’ll see an bigger party down there: [Mark Perry](http://mjperry.blogspot.com/2012/08/oil-prosperity-delivers-economic.html#links).

Mixed results in the Utica and not much oil: [Ohio](http://www.ohio.com/news/local/company-reports-shed-more-light-on-utica-shale-drilling-in-ohio-1.325896).

Offshore oil rigs drilling deeper than ever at [Globe and Mail](http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/offshore-oil-rigs-drilling-deeper-than-ever/article4481035/). Yes, new oil production to offset natural declines is very expensive.

China’s oil demand ebbs and flows. Right now it’s soft. [Reuters](http://www.reuters.com/article/2012/08/10/us-china-trade-commodities-idUSBRE8790AS20120810).

Animation on the basics of horizontal drilling and fracking: [Business Insider](http://www.businessinsider.com/marathon-oil-animation-on-hydraulic-fracking-2012-8?op=1).

This afternoon’s coal post will have the natural gas commentary. Tomorrow morning I leave for a much needed few days off. Feel free to search *Independent Stock Analysis* using the search button in the upper right corner. Signing up by email or FeedBurner are options too.